Steel Products Prices North America
September 11, 2014
Scrap Exports from the US through July
Written by Peter Wright
In the first seven months of 2014, total ferrous steel scrap exports totaled 8,828,815 metric tons, down by 20.6 percent from the same period in 2013. In the single month of July exports were 1,248,330 tons, down from June’s volume of 1,270,041 tons. May had by far the highest tonnage of the year, the July volume was in line with February, March and April.
Figure 1 shows that the three month moving average, declined by 2.2 percent in July and continued to be lower than the average in any year from 2007 through 2013. The most obvious trend so far this year continues to be the decline in tonnage to South Korea, down by 69 percent since January. Korea booked three cargoes in the first week of July after weeks of refusing to meet offered prices. The July price was up $8 / tonne identical to the increase Thailand paid for a cargo of 80:20 #1 #2 heavy melt.
